King Charles III won’t pay 40% inheritance tax on £641 million estate
A government spokesperson said "the Monarchy as an institution needs sufficient private resources to enable it to continue to perform its traditional role in national life".
With the nation in mourning following the death of Queen Elizabeth II, King Charles III has inherited her position as head of state.
His Majesty has also inherited most of the Queen’s multi-million-pound estate, which is reported to be worth £641 million by AS News.
This includes a mixture of public and private assets, with the late Monarch having reportedly ammassed tens of millions in private wealth through art and racehorses and other assets throughout her lifetime.
But while ordinary British citizens are required by law to pay a 40% tax on inheritance over £325,000, this won’t be the case for the new monarch.
The reason is thanks to a 1993 change in royal inheritance law that prevents a depletion of royal funds in the case of royal deaths in quick succession.
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Despite being introduced by the John Major government nearly 20 years ago, the change was not applied until 2002 following the death of the Queen Mother. Now it is being applied again, effectively depriving the Treasury of a windfall.
Speaking to The Express, a government spokesperson said that requiring the Moarch to make an inheritance tax payment would ‘inappropriate’.
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In a comment given to the paper, the Government explained: “Some assets are held by the Queen as Sovereign rather than as a private individual.
“They are not sold to provide income or capital for the personal use of the Queen and pass from one Sovereign to the next.
“The official residences, the Royal Archives, the Royal Collection of paintings and other works of art and other assets held by the Queen in right of the Crown fall into this category.
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“It would clearly be inappropriate for inheritance tax to be paid in respect of such assets.”
However, a spokesperson also said that the new King would also be exempt from paying tax on private assets because “the Monarchy as an institution needs sufficient private resources to enable it to continue to perform its traditional role in national life”.
They added another reason for the exemption is to ensure the monarch has “a degree of financial independence from the Government of the day.”
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Any relatives beyond King Charles II, however, will still be required to pay tax on inherited assets.
The Government outlines: “In relation to assets which can properly be regarded as private, the arrangements provide that inheritance tax will not be paid on gifts of bequests from one sovereign to the next, but will be payable on gifts and bequests to anyone else.
“Tax will also not be payable on assets passing to the Sovereign on the death of a consort of a former Sovereign.
“The reasons for not taxing assets passing to the next Sovereign are that private assets such as Sandringham have official as well as private use, and that the Monarchy as an institution needs sufficient private resources to enable it to continue to perform its traditional role in national life, and to have a degree of financial independence from the Government of the day.”
Feature image – BBC
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Manchester announces ‘poignant’ plans to mark Remembrance Sunday with free city centre service
Emily Sergeant
Manchester is set to honour the ‘service and sacrifice’ of members of the armed forces community during this year’s annual Remembrance Sunday commemorations.
With Remembrance Day only a couple weeks away now, just as it does each year, Manchester City Council has now revealed how the city will mark this important occasion, and has confirmed all the details of the annual Remembrance Sunday Parade.
Proceedings will start on John Dalton Street at 10:30am, and run right through until midday – with the service itself being held at 11am.
Veterans, military personnel and cadets, all led by Greater Manchester Police‘s Band, will march from John Dalton Street to the Cenotaph St. Peter’s Square.
This will be followed by a short return march to Mount Street across St Peter’s Square.
The service will begin at the Cenotaph at 10:58am, and a two-minute silence will be observed at 11am in tribute to those who have lost their lives in conflict. The start and conclusion of the silence will be marked by the firing of a maroon.
/ Credit: Manchester City Council
Following the service, veterans, military personnel and cadets will take part in a short return march across St Peter’s Square to Mount Street.
As the Council marks another year of its partnership with the Royal British Legion, further the Remembrance Sunday events will take place across the city following the service – including arts and crafts sessions, memorial services, and performances.
“Remembrance Sunday is one of the most important occasions in Manchester’s civic calendar,” declared Councillor Shaukat Ali, who it the Lord Mayor of Manchester.
“It is a time for us to come together as a city to remember and honour the courage, sacrifice and service of those from our diverse communities who have given so much in times of conflict. I want to encourage residents, families and visitors to join us at the Cenotaph as we pay our respects and ensure that the contribution of past and present generations is never forgotten.”
Manchester’s Remembrance Sunday commemorations will take place on Sunday 8 November from 10:30am onwards.
Featured Image – Manchester City Council
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Police issue statement following several stabbings in and around Manchester Arndale this month
Emily Sergeant
The police have issued an update following several stabbings, primarily involving teenagers, in and around Manchester Arndale this month.
It comes after Greater Manchester Police (GMP) officers responded to reports of a stabbing on Withy Grove at around 7pm on Tuesday evening (27 October), and once they attended the scene, the found a 13-year-old boy who’d sustained injuries consistent with knife wounds, and he was subsequently rushed hospital where he’s said to remain in a ‘stable condition’.
Enquiries are ongoing to establish the full circumstances of the incident, and GMP confirmed there will be an ‘increased police presence’ in the area as the investigation continues.
Section 60 and Section 60AA ‘stop and search’ warrants have been authorised following this most recent incident, and remain in place.
It has also been confirmed that four teenagers have been arrested in connection.
Three boys – aged 14, 15 and 16 – have been arrested on suspicion of affray and remain in custody for questioning, while another boy, aged 13, was arrested on suspicion of possession of a bladed article, GMP confirmed.
Providing an update following the several stabbings this month, Superintendent Simon Nasim, from GMP’s City of Manchester team, said: “Firstly my thoughts are with the young boy who was injured and I wish him a quick recovery.
“We are aware of the other incidents in the city centre of this nature, but at this stage they are not thought to be linked. Our communities should not be in fear of harm, and our priority is taking effective action with partners against those involved in anti-social behaviour and criminality.
“Knife crime is understandably a concern amongst our communities, and we have dedicated teams who will be deployed across the city centre to hotspot areas to strengthen our response to violent crime, and provide a reassuring message to our public.
“But we cannot tackle it alone. We rely on the cooperation of the public, to report anything that looks suspicious or any incidents to us, and we will be sure to act on it.
“Our investigation into [Tuesday’s] incident is ongoing, I urge anyone with information to please come forward.”
Can you help? Anyone with information, including witnesses or those with CCTV or mobile phone footage, are asked to contact police on 0161 856 1495, or via the LiveChat function on the GMP website, quoting log 3058 of 28/10/26.
Alternatively, you can contact Crimestoppers anonymously on 0800 555 111.
Georgina Pellant -
13th September 2022 
